Voxeo Announces Global Expansion and Record Growth

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Acquisition Launches Presence in Asia; Customer Growth in Europe and U.S. Takes Voxeo Into Top Tier of Global IVR Hosting

August 20, 2008 -- Today at the SpeechTEK 2008 conference, Voxeo Corporation, a leading provider of Interactive Voice Response (IVR) and Voice over IP (VoIP) platforms and services, announced record growth and further expansion as a global provider of on-premise software and on-demand Software as a Service (SaaS) telephony application platforms.

Financial Performance
From July 2007 to June 2008 Voxeo's revenue increased 99.7% over the prior twelve months. In North America and Europe revenues grew 94% and 470% respectively. Voxeo's performance significantly outpaced revenue growth seen by a peer group of eighteen leading public Software as a Service (SaaS) companies, which saw a 48% mean increase in revenues over the same period¹. Unlike most SaaS vendors, Voxeo grew significantly while maintaining profitability and has now closed 18 consecutive profitable quarters.

International Presence and Expansion
Voxeo Europe, launched in 2006, has already become the largest provider of standards-based IVR hosting in Europe. Unlike declining European providers of proprietary IVR hosting solutions, Voxeo solutions are based entirely on open VoiceXML, CCXML, and SIP standards.

Yesterday Voxeo announced the acquisition of Micromethod Technologies, a leading provider of standards-based IP-communication platforms. Micromethod is based in Beijing, China, and is the springboard from which a new Voxeo Asia Pacific subsidiary will be launched. Voxeo Asia Pacific will focus on the development, delivery, sales, and support of all Voxeo products and customers in Asia. The acquisition and expansion will accelerate Voxeo's growth in Europe and North America while also claiming new opportunities in Asia.

Analyst Recognition and Awards
In a recent Strategic Focus Report on "Hosted Speech and Outbound IVR Services", Datamonitor ranked Voxeo as the only company strong across all metrics of the IVR landscape, beating 17 other IVR companies². In February Voxeo announced that Gartner, Inc., a leading research and advisory firm, has "positioned Voxeo in the Visionaries Quadrant of its Magic Quadrant for IVR Systems and Enterprise Voice Portals, 2008 report"³. Voxeo's placement is based on "its ability to execute and completeness of vision." In June, Voxeo was the recipient of the exclusive Frost & Sullivan Award for Product Innovation for its Prophecy Voice Platform products and services. In July Voxeo won the 2007 Product of the Year award from Communications Solutions. Finally, in August Voxeo won the 2008 Speech Technology Magazine Speech Solution Award for "Best Self-Service Suite".

Extreme Support Outpaces Competition
Under the leadership of James G. Neumann, who joined Voxeo in late 2007 after running support organizations at Openwave Systems and Oracle, Voxeo's Extreme Support organization has furthered its goal to offer the best customer service available in any industry. Worldwide, Voxeo customers now see a response to 95% of their inquiries within 20 minutes, 24 hours a day. Over the last year Voxeo saw a 32% increase in new customers and a 26% increase in new tickets per week. Despite that growth, over the same period the mean time required to completely solve customer issues is down 40% and the volume of open issues is down 80%. Even before these improvements, 75.9% of Voxeo's customers ranked the company as the best or one of the best vendors they have dealt with in any industry. Voxeo has a 98% customer retention rate and is the defining vendor for exceptional customer support in the industry.

Strong Growth in Enterprise, Channel, OEM's and Developers
Over the last year Voxeo added 110 new enterprise and channel customers and licensed its white label, virtualized multi-tenant IVR platform to two of the IVR industry's largest firms. Voxeo platform technology is now used by 25% of the vendors in Gartner's "Magic Quadrant for IVR and Enterprise Voice Portals 2008", and 5 of the 19 vendors in Datamonitor's recent report on "Hosted Speech and Outbound IVR Services." In addition, over the past 18 months over 20,000 developers have installed Voxeo's openly downloadable Prophecy software platform and over 8,000 have joined Voxeo's Evolution developer program. As of August 2008 over 31,000 developers have joined Evolution.

"I would again like to thank our developers, enterprise customers, channel partners, and OEM licensees for the business they have closed with Voxeo over the last eight years," said Jonathan Taylor, President and CEO of Voxeo. "Unlike vendors that increasingly create channel conflict in an attempt to grab as much revenue as possible, Voxeo remains diligently focused on the success of our partners and licensees. As a result, Voxeo has the highest customer retention rate in our industry and is growing profitably at a pace unmatched in almost any industry."

About Voxeo
Voxeo makes voice applications easy to build and deploy. The company's common sense approach isn't rocket science. Offer a great platform. Make it exceptionally easy for people to try, buy and use. Provide amazing support. The approach has made Voxeo a leading choice among developers and the answer for companies who don't subscribe to the mentality that a powerful solution needs to be complicated and expensive. More than 30,000 developers and enterprise customers - including half of the Fortune 100 - use Voxeo's Prophecy Platform and Hosting to deliver innovative IVR, VoIP, outbound notification, unified communications and a new generation of SIP-powered solutions. Anyone can immediately download the Prophecy Platform or sign up to use Voxeo's hosted developer portal for free at http://www.voxeo.com/free.

Voxeo is an employee-owned company with headquarters in Orlando, FL, London and Beijing. The company's Prophecy Platform has been downloaded more than 25,000 times since its launch in 2006 and its standards-based IVR hosting platform is the largest in the world and the only one backed by a 100% uptime guarantee. For more information please visit http://www.voxeo.com or call +1 (407) 418-1800 or +44 (0) 20 7887 6085 in the UK and Europe.

Notes:
¹RBC Capital Markets "SaaS Market Update April 30th 2008."
²Datamonitor "Hosted Speech and Outbound IVR Services (Strategic Focus)" June 2008.
³Gartner "Magic Quadrant for Interactive Voice Response Systems and Enterprise Voice Portals, 2008" by Steve Cramoysan and Rich Costello. February 18, 2008.

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Megan Maxwell
Voxeo
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